SEC WORKING ON SUPERVISION OF ICO

business February 08, 2018 18:31

By The Nation

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The Securities and Exchange Commission (SEC) will present the results of its hearing on the supervision of initial coin offering (ICO) to the Capital Market Supervisory Board on expectation to finalise the policy within March.

SEC Secretary-General Rapee Sucharitakul said the SEC is considering related laws and possibilities in the supervision of ICOs before submitting its proposal to a joint working group comprising officials from the Ministry of Finance, Bank of Thailand, Anti-Money Laundering Office and the SEC within one month.

The SEC finds it necessary for transparency on the issue as more people are now interested in raising capital through and invest in ICO, he said.

He also warned investors of risks including price fluctuations, lack of liquidity and possible fraud and deception before making an investment, given no legal protection currently exist.